Best Forex Broker in the UK 2020

uk-forex-brokerWhich is the Best Forex Broker in the UK

Whether you’re a beginner or an experienced trader, we got you covered!

We have invested over 150 hours on research and tests to handpick the best forex brokers available to traders in the United Kingdom.

Here Are The Best Forex Brokers in UK:

Risk Warning:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. Bullmarketz may be compensated by some of the brokers listed on our website.

Is CFD Trading allowed in your country?

CFD Regulation Country by Country. The CFD trading services we are listing in this article is available in the following countries.

Europe:

  • Albania
  • Bosnia & Herzegovina
  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Kosovo
  • Latvia
  • Lithuania
  • Macedonia
  • Malta
  • Moldova
  • Montenegro
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Russia
  • Serbia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • Ukraine
  • United Kingdom

Excluded: Belgium

North America

  • Belize
  • Canada
  • Costa Rica
  • Cuba
  • Guatemala
  • Honduras
  • Jamaica
  • Mexico
  • Nicaragua
  • Panama
  • Puerto Rico
  • The Bahamas

Excluded: United States

South America

  • Argentina
  • Bolivia
  • Chile
  • Colombia
  • Dominican Republic
  • Ecuador
  • Guyana
  • Paraguay
  • Peru
  • Suriname
  • Uruguay
  • Venezuela

Excluded: Brazil

Africa

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burkina Faso
  • Burundi
  • Cameroon
  • Central African Republic
  • Chad
  • Democratic Republic of Congo
  • Egypt
  • Eritrea
  • Ethiopia
  • Gabon
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Kenya
  • Lesotho
  • Liberia
  • Libya
  • Madagascar
  • Malawi
  • Mali
  • Mauritania
  • Morocco
  • Mozambique
  • Namibia
  • Niger
  • Nigeria
  • Republic of the Congo
  • Rwanda
  • Sierra Leone
  • Somalia
  • South Africa
  • South Sudan
  • Sudan
  • Swaziland
  • Tanzania
  • The Ivory Coast
  • Togo
  • Tunisia
  • Tunisia
  • Uganda
  • Western Sahara
  • Zambia
  • Zimbabwe

Middle East

  • Georgia
  • Armenia
  • Azerbaijan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Cyprus
  • Israel
  • Jordan
  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Qatar
  • United Arab Emirates
  • Oman
  • Yemen

Asia

  • Afghanistan
  • Bangladesh
  • Cambodia
  • China
  • China
  • India
  • Indonesia
  • Japan
  • Kazakstan
  • Kirgizistan
  • Laos
  • Malaysia
  • Mongolia
  • Myanmar
  • North Korea
  • Pakistan
  • Papua New Guinea
  • Philippines
  • Singapore
  • South Korea
  • Sri Lanka
  • Thailand
  • Turkmenistan
  • Uzbekistan
  • Vietnam

Excluded: Hong Kong

Oceania

Forex Brokers & Platforms that we've tested:

  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPMarkets
  • AmanaCapital
  • Admiralmarkets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • FXPro
  • ForexTime
  • HYCM
  • FXGrow
  • TeleTrade
  • Trader.online
  • Marketscube
  • Finmaxbo
  • FXCC
  • Oanda
  • Forex.com
  • LCG
  • CMC Markets
  • FXCM
  • iForex
  • IFC Markets
  • Aaatrade

Our Writer:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

Best Forex Trading Platforms in the UK

1. Plus500 – Innovative CFD Broker for Forex

forex-trading-sites-ukPlus500 is a public listed UK company. They are known for delivering a high quality and simple to use the product; especially their in-house designed platform.

This makes Pluss500 a great CFD broker, regardless of your knowledge and skill.

Make use of their free demo account and try trading forex as CFD before you deposit any money.

Educational Material: FAQ section and “how-to” videos.
Demo Account:
 Yes, you can open a Plus500 demo account today and test their platform out before you start trading for real money.
Assets: CFDS for Forex, stocks, cryptocurrencies, and much more.

Check out our comprehensive Plus500 Review

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

2. CMC Markets – A Well-established UK Forex Broker

CMC Markets happens to be one of the greatest all-around online brokers in the UK and the forex trading product they offer is no exception. With the use of MT4 (preferred for forex trading) or the Next Generation platform, you gain access to all the tools and features you need to effectively trade forex in the UK.

From top-shelf graphing tools and market updates to a fabulous trading platform, CMC Markets acts as an extension of yourself, maximizing your opportunities as a forex trader.

In the selection of currency pairs offered, you’ll find majors, minors, and exotic ones from all over the world.

Educational Material: Great resources for beginners and more experienced traders
Demo Account: Yes, CMC Markets lets you open a free and unlimited demo account.
Assets: Thousands of assets and currency pairs from all over.

Check out this comprehensive CMC Markets review for more details

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

3. eToro – Forex Copy Trading 

best-uk-forex-platformseToro is one of the biggest and most well-established forex brokers out there.

What sets them apart from other brokers is their innovative and interactive copy trading platform.

Copy trading is a feature that allows your to copy other successful traders, thus avoiding the tidious analytic work that normally goes into forex trading. Better yet, it’s just as suitable for beginners as it is for experienced traders.

And don’t forget to interact with other traders using the eToro social trading network.

Educational Material: There is a lot of material to dig your teeth into but the social network is the best source of knowledge when using eToro.
Demo Account: Yes, eToro has an unlimited demo account for all traders and it’s even before you sign up.
Assets: Forex, stocks, ETFs, cryptocurrencies – you name it and eToro offers it!

Read about copy trading in our eToro review

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

4. AvaTrade – Forex Broker with Multiple Platforms

This is another top FX trading platform for UK traders. The broker provides a range of different platforms for everyone.

Moreover, spreads are low, customer service is great, and they’re reputation is flawless.

  • World class trading platform.
  • One of the best spreads in the industry.
  • 30:1 leverage for forex.
  • 50+ currency pairs including major, minor and exotic forex pairs.
  • Free forex demo account

Educational Material: Learn the basics of forex and CFD trading.
Demo Account: Practice trading with the AvaTrade demo account
Assets: Hundreds of assets spread across multiple markets.

Learn more in our Avatrade review

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

5. IG Markets – The Absolute Best Forex Broker in the UK

forex-brokersIG Markets is a part of the brand IG Group which is one of the oldest and most well-established financial organizations in the UK.

Their flagship product is IG Markets which is a world-leading forex and CFD broker that’s aimed to anyone from a complete beginner to a seasoned professional.

Educational Material: IG Markets might very well have the most comprehensive educational material of all forex brokers.
Demo Account: Yes! Their demo account can be used to test forex trading, CFD trading, and spread betting.
Assets: More than 10,000 underlying assets with currency pairs being the second largest asset class after stocks.

Read our IG Markets Review

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

6. City Index – Forex Trading and Spread Betting in World Class

City Index is an all-around online broker that provides their customer with the option of trading forex, CFDs, and spread betting on some of the greatest platforms that we have ever tried.

As a UK trader, you’re currently getting access to 84+ FX pair plus 12,000 other assets and it’s up to you how you prefer trading. You also have the option of using MetaTrader 4 or City Index’s own platform which is available as a web-based and downloaded desktop platform as well as an app.

Just like Forex.com, City Index is owned by Gain Capital which is a highly-respected financial firm based in the United States.

Educational Material: Everything you need to optimize your forex trading.
Demo Account: Yes, there is a free City Index demo account.
Assets: 84 FX pairs and 12,000 other assets.

Visit or City Index review

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

7. Forex.com – Fantastic Forex Broker for UK Trader

As the name entails, Forex.com is a great forex broker that also offers CFDs and tax-free spread betting for UK traders.

To us, there is no doubt that Forex.com is a market leader and with 80+ currency pairs and some of the most competitive spread in the industry, it should come as no surprise why we think so.

Combine that with two great platforms, including MetaTrader 5, as well as an extensive educational resource, and you have a UK forex broker that you can rely on as well as grow with.

As a UK broker, Forex.com is regulated by the FCA, however, they are also regulated in North America which is quite rare for brokers like this. In the end, that’s a sign of how serious and dedicated this broker is.

Educational Material: One of the most extensive educational platforms out there.
Demo Account: Yes, you can open a free demo account with Forex.com
Assets: 80+ currency pairs as well as shares, commodities, indices, and cryptocurrencies

Check out our Forex.com review

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

BullMarketz.com provides detailed and constantly updated broker reviews that help people from all over the world find reliable online trading services. All of our recommendations are based on rigorous testing done by a team of professionals and are guaranteed to be unbiased and neutral at all times. To be listed as a forex trading platform on our website the broker has to be regulated and licensed by the FCA or CySEC.

Other Forex Brokers in the UK:

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research 7 Best Forex Brokers & Platforms in the UK - 150+ Hours of Research

Find the best trading platform. You capital is at risk when trading. Be careful.

How We Conduct Broker Tests

Based on our extensive experience as UK forex traders, we conduct all our reviews on specific criteria which you can read more about below.

Our reviewing process is extensive and we have spent countless hours trading with and researching every broker we recommend.

Safety and Transparency – A UK forex broker has to be safe and the only way to ensure that is to only use brokers with a license from the Financial Conduct Authority (FCA).

Assets – You need to have access to all the currency pairs you want to trade. Anything else would be pointless. Most forex brokers also offer CFDs on stocks, commodities, cryptocurrencies, etc. giving you the opportunity to benefit from multiple markets.

Platform – Being comfortable with the platform you use is absolutely crucial, especially as a beginner. Therefore, we only recommend brokers with the best forex platforms in the UK.

Fees – All UK forex brokers make money from charging what’s called a spread as well as other fees. The spread is the difference between the bid and ask price and you wan’t this to be as low as possible. All brokers recommended on this page are transparent with their spread and fees, yet some are “cheaper” than others.

Naturally, we also take other things into account and only recommend brokers that belong to the absolute top tier of brokers. For example, the broker’s reputation, history, and associated services.

FCA regulated FX Brokers in the UK

As mentioned, safety is always our number one priority and, therefore, we only recommend licensed and regulated brokers.

On the British market, it’s the Financial Conduct Authority that’s responsible for regulating brokers and all the brokers we recommend for UK traders are licensed by the FCA.

Receiving a license from the FCA is not easy and only brokers that live up to the highest standards regarding funds protection, customer safety, and legitimacy, are approved.

Moreover, keeping a license is almost harder and every licensed broker goes through constant audits and checks by the FCA.

In addition, there are other regulatory bodies in Europe and abroad, for example, the CySEC for EU forex brokers, the ASIC for Australian forex brokers, MAS for forex brokers in Singapore, etc. Subsequently, that means that brokers with more than one license are prioritized.

Be careful and use your common sense!

Unregulated Brokers

If you look around the web you will be able to find a lot of unregulated brokers and scams. Stay far away from them!

Open An Account with the Best Forex Broker in the UK

After reading our recommendations it’s time to start trading. In order to do so, you have to open a trading account following these steps.

  1. Open an account – You start by providing the broker with personal information such as your name, address, email, phone number. This information will serve as the foundation for your account and is similar to the registration process on any website with accounts such as Facebook or Twitter.
  2. Verify your identity – Due to strict financial regulation, you have to verify your identity before you can deposit and withdraw funds with any regulated broker. This is done by uploading a copy of your official ID (passport, driver’s license, etc.) as well as proof of address (recent utility bill or bank statement). Note that the verification process can take a few days and that any broker can request additional information so make sure you start the verification process in time.
  3. Deposit funds – As soon as the broker has approved you and verified your identity, you can deposit money. Most brokers allow you to deposit using a debit/credit card, a regular bank transfer, and a range of e-wallet (Paypal, Skrill, Neteller). You want to make sure that the broker you pick supports the payment method you prefer before you register your account. Also, keep in mind that withdrawals are done back to the same account you used to deposit.
  4. Start trading – Now you can start trading at your own will. As a beginner, we suggest you start off slow and small. Don’t deposit too much, never use more than 5% of your balance on any single position, and never trade using money you can’t afford to lose. All the forex broker in the UK that we recommend provides educational material that will help you get started.
    Good luck and don’t hesitate to contact us if you have questions or concerns regarding FX brokers in the UK!

Looking For Something Else? 

In addition to the brokers provided above, we have listed the best trading products based on many other criteria in order to accommodate as many traders as possible.

Our Author:

Our editorAdam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.

Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.

COMMENTS

WORDPRESS: 5
  • comment-avatar
    Edward 1 year ago

    How come you don’t list more brokers? I know for sure there are many more brokers in the UK..

    • comment-avatar

      Hi Edward,

      Thanks for your comment.

      The reason for the article is to provide our visitors with absolute best forex brokers available in the UK, not all forex brokers in the UK. These are our favorite brokers.

      Though you are most definitely right, there is a ton of other brokers out there. Regulated and unregulated. We always advise our users to use regulated forex brokers.

      If you feel the none of the forex brokers listed above are not suitable, you can always look for others.

      Best,
      BM

  • comment-avatar
    Kassy 1 year ago

    So I am looking for the best currency / forex trading platform.. I do not really care about the design etc.. just great functionality and performance..

    I am curious about how these brokers are making money?

    • comment-avatar

      Hi Kassy, thanks for your comment.

      Question 1: The best platform – We would suggest that you check out Avatrade, or any other broker offering MT4 or MT5, these are generally considered to be the best forex trading platforms if you are only looking for performance and don’t care too much about design.

      Question 2: All of the forex brokers listed here are making money with a so-called spread. and it’s basically the difference between ASK and BID. You can look at the spread as the broker’s service cost.

      BR,
      BM

  • comment-avatar
    How_to_trade-Rafael 1 year ago

    I’ve have been with etoro for a while now and they’ve seem OK, I was previously trading in IG however they are notorious for shutting down very successful accounts. This coming from someone who used to turnover 7 figures with them..

    etoro is great if you are a beginner, if you are advanced perhaps another platform would work better.

  • Between 73-89% of retail investor accounts lose money when trading CFDs.